That is fair, but as we all know, Iron Man is constantly improving his gear and seldom ever goes back to using old suits unless it's necessary. I find it very unlikely that Tony would have entered this tournament wearing a suit from 2005.
The comic where Magneto ripped the metal from Wolverine's skeleton sold pretty well if I recall correctly. But if we're going to use comic book canon to establish their power range, you can't suddenly just shout "comic book logic!" to counter my point.
Except his magnetic force fields provide protection from being ripped apart by Magneto or being shut down like you're claiming. If Mags wants to defeat Iron Man he has to do it the old fashioned way.
In a hypothetical argument based on fictional characters it's completely fallacious to say Magneto would do something to Iron Man he hasn't yet done. It would be like saying Batman would snap Daredevil's neck because Batman knows how to snap necks.
Fact of the matter is, we have a super-villain who's done terrible, terrible things to other metal based heroes and yet hasn't been able to do the same to Iron Man in their bouts in the past. Either Magneto isn't as powerful as you claim, or Iron Man's suit isn't as magnetic as you would wished it was.
Yet they still publish comics where Magneto treats Wolverine and Colossus like puppets whenever he brawls with them.
I wonder why they haven't written a storyline where Magneto's old age leaves him bedridden and unable to be a total bad ass? If we're going to accept there is a universe with super mutants then you have to also accept the reality that in this universe, someone possess armor that can defend himself from mentioned super mutant.
Again I ask why Magneto did that to Iron man in their previous bouts where Magneto ended up getting his ass whooped by Stark.
Not entirely true, but it is a bit more apparent in the case with comic books due to the fact that comic books (especially Marvel) have had decades of continuity to outline and define the characters within them.
The thing with "rules" is you can't follow some and ignore one. If we're going to entertain the thought that Magneto's very existence is believable, then we also have to follow that there are people who can, and have defeated in him battle, like Iron Man and his science defying super suits that prevents Magneto from controlling his suit.
But really we